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Why Business Now Hates President Obama
Frankly, I don't think it has anything to do with how his policies have affected or will affect business, although that is what has been and will be claimed. A rationalization. I believe it is because he has raised the issue of executive pay and appointed a "Pay Tzar" to question it. Which is the equivalent of a governor appointing a "Pension Tzar," and drawing an open comparison between the deals public employee unions have grabbed in the past 15 years and the situation of everyone else. So should Obama back off?
Hell no! The horse is out of the barn, and Obama might as well give up on executive support, other than support from honest executives on the subject. He might as well REALLY raise the issue, and keep doing it. He has everything to gain, and nothing to lose. FDR knew this, and acted accordingly. And just as the correct way to attack excess years in retirement is from the left, as a social injustice against the less well off resulting in diminished public services and higher taxes, so the correct way to attack excess executive pay is from the right, as a ripoff of shareholders (including public employee pensions). Ask John Bogle. Not by proposing government regulation of the high end labor market, but by suggesting shareholders rally together to do it themselves, because that market is a rigged market and not a real free market. How about an anti-trust investigation of executive pay consultants, with subpeona power? You probably couldn't convict them, but you probably could embarass them. "So, how have investor returns gone in all the years the pay of those at the top has soared? You mean there aren't any other MBAs out there who could do the job for less? In retrospect, couldn't we have paid less while going ten years with zero return or less? On what basis were those executives worth 300 times those they supervised?" I'll bet what you'd find is similar to what has been found in Bell, California. Those with an excess sense of entitlement cannot be satisfied, and need to be dragged to confront the consequences for others of the deals they have cut for themselves, kicking and screaming and whining and threatening all the way. They want to feel loved? Well, people love Steve Jobs, who earns little in salary and only makes money when the company does. No one else in politics is going to do it -- they are all being funded by someone who benefits from something. Having crossed the Rubicon, President Obama might was well. The excess sense of entitlement comes from Generation Greed. We can have a debate about the minimum level of health care (or anything else) the government should provide to everyone, and what people should be left to pay for themselves if, and only if, they are lucky enough to be able to afford it. And don't be surprised if I'm willing to settle for less, quite a bit less, than you are.
But for one generation to demand unlimited care at unlimited cost, that they are unwilling to pay for it and borrow instead, while taking employer-funded health care away from younger generations (by shopping where it is cheaper) and setting up a situation where younger generations will get nothing in old age (because the government will be broke) is morally wrong. Period. Directly or indirectly (through tax exemptions and the provision of tax-financed health insurance for public employees and retirees) the government is already paying for more than 3/4 of third party expenditures pre-Obama. Time to spread that around a little more fairly, and stop it from growing. If anything, health care reform did not go far enough. But I don't blame Obama for that.
We need equality within the government between less and more powerful interests and younger generations. You want to say that those who would benefit from health care reform should get nothing? Well you can still get my respect by saying nothing should be give to anyone else, INCLUDING those now over 55. The economy is going to be bad for a long time, but this has nothing to do with health care reform. What matters, all that matters, is in this chart. Who did this? Who was in favor of it? Not me, that's for sure. I was upset that the state legislature was selling out the future of New York State, but that was not a local phenomenon. Again, we can debate how the pain should be shared. But in my view, Generation Greed and the executives who sit on each other's boards and vote each other pay raises should top the list.
Again, Larry - it isn't up to you or anyone else to "spread around" other people's wealth. That is stealing. You're wandering all over the map here. Your musing as to what 'problem' business has with Obama is self-explanatory - if you start looking at facts and stop regurgitating socialist PR. Did greed cause the economic situation we're in? Partly. It was supplemented by stupidity and complacency. Did Obama swoop in and save the day? Hardly. He helped create the mess from the Senate and then fanned the flames by stealing - yes stealing - more money from tax-payers and handing it over to people who did everything possible to demonstrate they cannot manage money. Then for good measure, he put some friends into well paying jobs to oversee things. That will certainly help. The damage Obama has done to this country is criminal. He has done nothing to help or heal and everything to exacerbate and destroy. As far as health care reform goes - where is it?? Where is affordable, accessible healthcare for everyone - because it sure as hell isn't in Obamacare. But then, I'm guessing like all those who voted for this atrocity of a bill, you are another 'supporter' who hasn't actually read it. This is a brilliant blog. I mean it. You might have a great deal knowledge about this issue, and such a lot of passion. You furthermore mght know the way to produce people rally behind it, obviously belonging to the responses. Youve got a design here thats not too flashy, but makes a press release as big as what youre saying. Great job, indeed.
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Business hates Obama because Obama has done serious damage to business. Speak to a business owner about the effect "healthcare reform" will have on his bottom line. The best case scenario (frighteningly) is that Obama either doesn't care about or doesn't understand the critical role business must play in restoring an economy he has taken from bad to worse. Or... he does and is doing everything in his power to prevent it. He has spent all of his time in office inflicting maximum damage on this country and he is unfit for the office of President.
Shareholders have always held the responsibility of keeping tabs on private businesses in which they have a financial interest. If they failed to do so and were 'ripped-off' as a result then the fault lies squarely with them. That's a far cry from the egregious waste in government - our tax dollars are treated like 'mad money' - most especially since Obama and his posse rode into town. They are uniquely unqualified to run businesses and yet have decided that our already dysfunctional government should literally take charge of American industry. Now, there's a hostile takeover.
The excess sense of entitlement you refer to comes not from those who actually earned their money - but from those who suffer the delusion that they can take what they did not earn simply because they want it. That is not 'redistribution of wealth' - it is theft.
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